CBT soybeans peaked in June as Chinese demand for US soybeans was fulfilled by Brazil. However, the market has begun a seasonal recovery in recent weeks on short covering and limited US farmer selling. Cumulative soybean exports to date total 303 million bushels, down 213 Mil (41%) from last year. Current exports combined with outstanding…
Summary: The lineup of ships waiting or scheduled to load US soybeans is a record 4.37 MMT (160 MBU). That is down 7% from the previous week’s record high. Next week’s soybean export inspections could be 2.300 MMT (85 MBU) vs 77 the previous week. That would be up 9% from this past week. US soybean…
CBT futures are mixed at midday with corn the upside leader while wheat/soy futures lag. Funds have been buyers of corn/soyoil, but at a much slower pace than recent days. Normally, funds enter/exit markets in 3-day time horizons, and this is the 3rd day of the corn rally. Starting next week, corn and the entire…
Ukraine’s corn harvest advanced 24% this past week with 56% of the corn area combined. However, Ukraine corn yields rose only slightly but are the third highest for this stage in the harvest. The cumulative average yield is 6.44 MT/HA (see red line in chart below). That is well above last year’s 4.72 MT/HA (see…
Highlight: Chilly 6-10-day forecast fades to near normal days 11-15. Climate Signals ALERT Chart Days 6-10 Days 11-15 Arctic Oscillation Positive Neutral North Atlantic Oscillation Neutral Neutral Pacific North America Positive Neutral West Pacific Oscillation Negative Negative East Pacific Oscillation Neutral Neutral Madden Julian Oscillation Indian Ocean East Indian Ocean Stratosphere Cooling Neutral Climate…
